Another slow holiday week for real estate around Cape San Blas, with no new contracts or closed sales, but a couple of very attractive price changes. The inventory sits at 507, down only 3 from last week, with 178 homes and 329 lots listed for sale in the MLS. There are a lot of Realtors out there with way too much time on their hands right now, so if any of you have gotten bored enough to drive around and actually count the number of FSBOs on the market let me know and I’ll be glad to add that to our weekly mix.
Only two price changes this week but they’re both really attractive from a buyers standpoint. The Stillwater lot has been listed since February for $125,000, which is what the seller paid for it in September of ’04, and he reduced it 20% this week down to $99,000.
The second lot is in a gulf front subdivision called Curve at the Cape and this is truly a sweet deal: gulf 1st tier lot, X zone, reduced a whopping 35% from $399,000 down to $262,000. This lot isn’t in the CBRA zone either so flood insurance won’t even be a major issue when you go to build. It’s been a long time since we’ve had 1st tier lots anywhere near this low. The lowest priced comparable sale was earlier this year when a 1st tier in Gulf Pines was let go for only $320,000. If you’ve been looking for good investment opportunities this is it. Shoot me an e-mail to [email protected] or call me at 850-227-5197 is you’d like more info on either of these properties.